The Securities and Exchange Commission (SEC) hereby issues this Notice pursuant to sections 3 and 209 of the Securities Industry Act, 2016 (Act 929) to all Investors (excluding Investors of Collective Investment Schemes) on claims for the 53 Fund Management Companies (“FMCs”) with revoked licences.
SEC would like to thank Investors and all stakeholders for the successful completion of the submissions which commenced on 18th November 2019 and ended on 15th January 2020. Investors who are yet to receive acknowledgment of claims from the SEC should note that acknowledgments are ongoing.
Two phases of the payment of claims are yet to commence. In the first phase, the amount promised and allocated by Government would be paid to investors after the validation of claims submitted.
The second phase will be after a Court-appointed Official Liquidator realizes net proceeds upon successful winding- up proceedings in Court in relation to the affected Fund Managers’ assets.
Further communication on when payments will commence will be made in due course.
Investors may send emails to SEC at email@example.com or call this toll-free number 0800-100-065 for clarification.
The full public notice can be found here Public Notice
BY ORDER OF
SECURITIES AND EXCHANGE COMMISSION
DATED THE 11th FEBRUARY, 2020